Freely convertible currency definition updated to list specified currencies and include rupees purchased by the Asian Development Bank. Amendment substitutes the Explanation of freely convertible currency to enumerate specified foreign currencies (including Australian Dollars, Canadian Dollars, Deutsche Marks, Euros, Japanese Yen, Pounds Sterling, U.S. Dollars and others) and to state that the term includes Indian Rupees bought by the Asian Development Bank by payment to the Reserve Bank of India in foreign exchange, under the authority of sub rule (3) of rule 19 of the Central Excise Rules, 2002.
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Provisions expressly mentioned in the judgment/order text.
Freely convertible currency definition updated to list specified currencies and include rupees purchased by the Asian Development Bank.
Amendment substitutes the Explanation of freely convertible currency to enumerate specified foreign currencies (including Australian Dollars, Canadian Dollars, Deutsche Marks, Euros, Japanese Yen, Pounds Sterling, U.S. Dollars and others) and to state that the term includes Indian Rupees bought by the Asian Development Bank by payment to the Reserve Bank of India in foreign exchange, under the authority of sub rule (3) of rule 19 of the Central Excise Rules, 2002.
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